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Started By
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re: Here's How 24% of Baby Boomers Are Solving Their Retirement Crisis
Posted on 12/28/17 at 1:49 pm to GreatLakesTiger24
Posted on 12/28/17 at 1:49 pm to GreatLakesTiger24
Baby boomers are facing longer life spans, thus they are supporting parents
Baby boomers are also supporting their kids who are living at home in record numbers
Baby boomers are paying more taxes at this time then any other group
ALways present all viewpoints - otherwise you sound like cnn
Baby boomers are also supporting their kids who are living at home in record numbers
Baby boomers are paying more taxes at this time then any other group
ALways present all viewpoints - otherwise you sound like cnn
1
Posted on 12/28/17 at 1:57 pm to 756
quote:no excuse to have $17,000 saved. That's pathetic regardless of your situation.
ALways present all viewpoints
Posted on 12/28/17 at 2:48 pm to GreatLakesTiger24
Rarely do I ever comment on these boards. Admittedly, a boomer, but a conservative one. Not going to talk about me, but about what the 30 year olds in the room need to accomplish
In 37 years you are likely to need a minimum of 3mil in your account. A return of 4% will generate 120k a year. If you are fortunate, social security could provide you another 80-100k. 220k sounds like a lot? When you factor in inflation... that will be worth about 90k in todays dollars.
First you have to get to 3mil. Start saving yesterday.
In 37 years you are likely to need a minimum of 3mil in your account. A return of 4% will generate 120k a year. If you are fortunate, social security could provide you another 80-100k. 220k sounds like a lot? When you factor in inflation... that will be worth about 90k in todays dollars.
First you have to get to 3mil. Start saving yesterday.
This post was edited on 12/28/17 at 2:49 pm
Posted on 12/28/17 at 3:02 pm to natsoundup
Your math is wrong. Assuming 4% returns includes inflation. Your overall gains will be around 8%, or you aren’t investing right.
Posted on 12/28/17 at 3:32 pm to TH03
quote:
Yeah $17k wouldn't go far at all man. Nice spin though
no one is arguing that tard. (I really thought you were better than this).
the point is, there are numerous factors at play for the boomers. Same with millennials. Some will be in a pickle, some won't. The hate and derision leveled at the oldsters is as out of place as is the hate for millennials. The whole idea of a "crisis" is still up for debate. And most of the people pushing the idea stand to benefit financially from perpetuating the idea (think of global warming or any other "crisis").
Better to take a wait and see approach. If they rally are fricked and need a bail out, it will be addressed. If not, why worry about it?
Posted on 12/28/17 at 3:37 pm to Parmen
quote:
frick baby boomers. Drain on society
Yet most of you supported the recent tax cuts that will burden you with even more debt. I am not worried about my retirement (my retirement savings is way above average), but I worry about how my kids will be able to retire.
Posted on 12/28/17 at 4:14 pm to islandtiger
quote:
Yet most of you supported the recent tax cuts that will burden you with even more debt.
were you equally worried when Obamcare passed? How bout all the programs for illegals and others?
Posted on 12/28/17 at 4:21 pm to double d
quote:
I’m a boomer who saved for my future. I have my 401K that is near a mil and a defined pension. I plan to work till 62. I also will collect my ss and any other government benefits I have paid into and earned.
You will not collect SS with a defined pension.
Posted on 12/28/17 at 4:24 pm to tigerinthebueche
quote:with that logic, why worry about the national debt or budget deficit? Why worry about anything?
Better to take a wait and see approach. If they rally are fricked and need a bail out, it will be addressed. If not, why worry about it?
Posted on 12/28/17 at 5:43 pm to AUCE05
4% return on the 3mil. Maybe you will earn two, maybe 8, but CFP say to invest conservatively (bonds, utilities) so you get a 4% return in your retirement years.
Posted on 12/28/17 at 6:20 pm to Cap Crunch
quote:
fricking baby boomers, relying on the government to provide for them
It's their money that they paid to Social Security. frick the politicians for raiding it and adding pay outs for things never originally intended.
This post was edited on 12/28/17 at 6:21 pm
Posted on 12/28/17 at 6:22 pm to islandtiger
quote:
Yet most of you supported the recent tax cuts
It's my money.
Cut spending
Posted on 12/28/17 at 6:44 pm to GreatLakesTiger24
They should learn to go to Carrousel
Posted on 12/28/17 at 7:10 pm to GreatLakesTiger24
quote:
you suck at reading
Among other things
Posted on 12/28/17 at 7:32 pm to GreatLakesTiger24
quote:
ith that logic, why worry about the national debt or budget deficit? Why worry about anything?
We’re you as worried when Obama or Hillary proposed to pay for everyone’s college education or forgive all student loan debt? Many of you seem to be very arbitrary as to when you want to worry about the deficit. Funny you have no problem bitching about boomers but seem quite happy to ask everyone to pay off your student loans.
Posted on 12/28/17 at 7:41 pm to GreatLakesTiger24
quote:
They can't stop losing
I guess that means your inheritance you relied on is shite. When you millenials start working and putting a single dime away rather than living in mom's basement and burning the internet up complaining you might get to learn to live on your own. In other words, my retirement is in great shape and when you put away $250k by 50 THEN you can call me a loser. Until then GFYS!
Posted on 12/28/17 at 7:43 pm to tigerinthebueche
quote:1) you can't compare an impending crisis to an empty promise made by (boomer) presidential candidates
We’re you as worried when Obama or Hillary proposed to pay for everyone’s college education or forgive all student loan debt?
2) i think mass student loan forgiveness is stupid
quote:sweet straw man.
Many of you seem to be very arbitrary as to when you want to worry about the deficit. Funny you have no problem bitching about boomers but seem quite happy to ask everyone to pay off your student loans.
Posted on 12/28/17 at 7:44 pm to TigerLicks
quote:
when you put away $250k by 50
Look man I'm not bashing this at all, it's respectable, but this number by this age isn't all that impressive by a long shot.
This post was edited on 12/28/17 at 7:44 pm
Posted on 12/28/17 at 7:44 pm to TigerLicks
quote:is that supposed to be a lot or something?
when you put away $250k by 50
Posted on 12/28/17 at 7:51 pm to tigerinthebueche
quote:
were you equally worried when Obamcare passed? How bout all the programs for illegals and others?
Yes on Obamacare. Not sure on illegal immigrants. Plenty of studies indicating that illegal immigrants contribute more in US, state and local taxes than they receive in benefits.
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